Itron (ITRI) Announces Quarterly Earnings Results, Beats Expectations By $0.18 EPS
Itron (NASDAQ:ITRI) issued its quarterly earnings data on Tuesday. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.18, ARN reports. The company had revenue of $489.00 million for the quarter, compared to the consensus estimate of $465.61 million. During the same quarter in the previous year, the company posted $0.58 earnings per share. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. Itron updated its FY14 guidance to $1.50-1.80 EPS.
Shares of Itron (NASDAQ:ITRI) traded up 0.80% on Tuesday, hitting $36.40. 258,254 shares of the company’s stock traded hands. Itron has a 52-week low of $32.30 and a 52-week high of $46.09. The stock’s 50-day moving average is $39.50 and its 200-day moving average is $37.89. The company’s market cap is $1.431 billion.
A number of research firms have recently commented on ITRI. Analysts at Bank of America downgraded shares of Itron from a “buy” rating to an “underperform” rating in a research note on Monday, July 21st. They now have a $39.00 price target on the stock, down previously from $40.00. They noted that the move was a valuation call. Analysts at Stifel Nicolaus initiated coverage on shares of Itron in a research note on Wednesday, May 28th. They set a “hold” rating on the stock. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Itron presently has a consensus rating of “Hold” and an average target price of $39.40.
Itron, Inc(NASDAQ:ITRI) is a technology company and one of the global suppliers of a broad range of standard, advanced, and smart meters and meter communication systems, including networks and communication modules, software and services.
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